Ualá Secures $197 Million in Funding, Led by Allianz X with Participation from Tether
Odaily Odaily Planet Daily News: Argentine digital bank Ualá has completed a $197 million funding round, led by Allianz X, the strategic investment arm of Allianz Group, with Tether investing $20 million. The funding round, announced in March, values Ualá at $3.2 billion.
Ualá serves over 11 million users across Argentina, Mexico, and Colombia. The company will use the funds for expansion in Latin America, with a key focus on the Mexican market.
Ualá founder and CEO Pierpaolo Barbieri stated that this investment does not include the integration of stablecoins on the platform. Ualá operates as a licensed bank in its relevant markets, and regulatory rules restrict such integrations.
Ualá serves over 11 million users across Argentina, Mexico, and Colombia. The company will use the funds for expansion in Latin America, with a key focus on the Mexican market.
Ualá founder and CEO Pierpaolo Barbieri stated that this investment does not include the integration of stablecoins on the platform. Ualá operates as a licensed bank in its relevant markets, and regulatory rules restrict such integrations.
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